JPMorgan’s Onyx from Project Guard to boost the industrialization of blockchain POS

Wall Street giants are looking at how to industrialize concepts developed in blockchain experiment Project Guardian.

According to Stephanie Locke, product manager for JPMorgan's blockchain platform Onyx, one of the company's “biggest areas of focus” is turning its pilot program with the Monetary Authority of Singapore (MAS) into production. Locke shared these details at the TokenizeThis event in Miami on May 10:

“We want to see how we do it. The investment fund token is really where we focus a lot of our time. […] That's a really big focus: How can we manufacture, industrialize what we've built for the concept?”

Another traditional firm that “focuses squarely on blockchain-enabled financial migration” is asset manager WisdomTree. Speaking at the event, Mardith Hannon, Head of Business Development, Wisdomtree, said the company aims to diversify portfolios in addition to integrating portfolios with checking accounts.

“Imagine if you could make 10,001 different types of allocations, different risk profiles,” Hannon says of the benefits of real-world asset simulation for investor portfolios.

Related: Token to open interaction between payments, investments

Also tied to tokenization, WisdomTree is exploring how to offer its customers a variety of on-chain services under the same interface. According to Hannon, the bank is working on an application that includes a variety of financial services, including tokenized portfolios and regular banking services. Hannon said:

“It's about enabling them to be in chains. Provide the ultimate value of being able to use your money efficiently. Being able to be in the market, earning 5% in a money market fund with no income in your checking account. That's really what we're going for here. And we think in terms of distribution, this is a huge demand in the market and a problem to solve.

WisdomTree is one of the asset managers behind the Bitcoin exchange-traded fund (ETF).

Project Guardian is an initiative exploring the feasibility of decentralized finance (DeFi) applications and asset tokenization in crowdfunding markets. Launched in May 2022, its primary focus is to develop open and interoperable networks, enterprise-grade DeFi protocols, asset tokens and trusted infrastructure.

Major participants in Project Guardian include JPMorgan, DBS Bank, SBI Digital Asset Holdings and WisdomTree.

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